BØK 3561 Performance Management
BØK 3561 Performance Management
Performance management involves the development, facilitation, and use of control mechanisms to support the value creation process. In business operations, goal and indicator management is the prevailing form of control. This form of control fundamentally revolves around three things:
- identifying factors that positively and negatively impact value creation
- making resources available and coordinating them to move in the same direction towards a designated course
- signalling deviations from a designated course, correcting the course, and learning from experiences. In performance management, control tools are used to close negative gaps on a designated course or to stimulate debate and strategic renewal.
Students are expected to acquire knowledge about:
- The relationship between performance management and strategy content and strategy process
- Perspectives on value creation, including various business models
- Stakeholder-oriented management
- Various forms of performance management
- Frameworks for performance management in business operations
- Levers of Control, The Balanced Scorecard, and Management by Objectives
- Dynamic management of business resources
- Management-relevant costs and revenues
- Concepts for operational efficiency
- Models and tools for goal and indicator management, including strategy maps, KPIs, and forecasts
- The budget as an integrated set of financial forecasts
- Profit and loss, balance sheet, and cash flow budgeting
- Internal performance reports
Students are expected to acquire skills in:
- Developing and using management packages, where tools are tailored to specific management situations
- Developing goal management models and being able to assess the strengths and weaknesses of the models
- Developing and using Excel-based budget models and conducting budget analyses to uncover discrepancies between plans and forecasts
- Conducting process analyses to streamline resource usage.
Students are expected to develop an awareness of business management as a contextual discipline, where business-specific and external factors influence management. They should be able to develop business-specific management models and critically engage with them.
Part 1 - Perspectives on Performance Management
- Value creation: what, why, how, and for whom
- Various forms of performance management
- Performance management in business operations
- Key management concepts
- Dynamic management
Part 2 - Costs and Operational Efficiency
- Cost concepts
- Relevance of costs and revenues
- Operational efficiency
Part 3 - Goal and Indicator Management
- The balanced scorecard
- Sustainability reporting
- Case-based development of goal management models
- Forecast-based management
Part 4 - Budgeting
- Budget's relationship with financial accounting
- Budget's place in goal management
- Profit budgeting
- Cash flow budgeting
- Balance sheet budgeting
- Budget simulation
- Internal reporting
The course is taught/guided over 14 weeks. Lectures are used to provide structure and framing for the academic content in line with the course's learning outcomes. These sessions are supported by videos that address selected issues. In addition to lectures, tutorial seminars are conducted related to parts 3 (goal and indicator management) and 4 (budgeting) of the course.
Students are responsible for participating in the teaching and tutorial seminars with questions, comments, and discussions.
Solving tasks in the course's case and assignment program is crucial for understanding the subject. Task solving takes place in lectures, seminars, and through independent work. Parts of the task solving require students to use Excel.
Implementation as an online course
In the implementation of the course as an online course, the online instructor, in collaboration with the study administration, will organize a suitable combination of digital learning resources and activities. This will correspond to the number of hours specified for campus teaching. Online students will also be offered a study guide to assist with progression and overview. The total recommended time commitment for completing the course also applies here.
Higher Education Entrance Qualification.
Disclaimer
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
BØK 3430 - Fundamentals of accounting and finance or similar course
| Assessments |
|---|
Exam category: Submission Form of assessment: Structured Test Exam/hand-in semester: First Semester Weight: 40 Grouping: Individual Duration: 3 Hour(s) Comment: Mid-term exam at home. Exam code: BØK 35611 Grading scale: ECTS Resit: Examination every semester |
Exam category: Submission Form of assessment: Submission PDF Exam/hand-in semester: First Semester Weight: 60 Grouping: Group (1 - 3) Duration: 2 Week(s) Exam code: BØK 35612 Grading scale: ECTS Resit: Examination every semester |
All exams must be passed to get a grade in this course.
| Activity | Duration | Comment |
|---|---|---|
Teaching | 26 Hour(s) | |
Seminar groups | 24 Hour(s) | |
Prepare for teaching | 14 Hour(s) | |
Digital resources
| 10 Hour(s) | |
Student's own work with learning resources | 38 Hour(s) | |
Individual problem solving | 88 Hour(s) |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.